Author: WAJ Editor

Ghana and Rwanda have signed a Memorandum of Understanding (MoU) to provide a license passport framework and cross-border payment interoperability aimed at facilitating fintech operations between the two countries. The agreement, signed by the Bank of Ghana and the National Bank of Rwanda, will allow regulated fintech firms licensed in both countries to expand their services with minimal additional regulatory requirements. The initiative is expected to spur growth in the financial technology sector and enhance cross-border digital transactions. Furthermore, the MoU reinforces Ghana’s commitment to fostering an integrated African market, encouraging fintech investment and supporting the growth of small and…

Nigeria is set to host the first African Raw Materials Summit in Abuja, a major event aimed at promoting economic diversification and industrial growth across the continent. Announcing the summit at a preliminary briefing in Abuja, the Director General of the Raw Materials Research and Development Council (RMRDC), Professor Nnanyelugo Martin Ike-Muonso, highlighted its importance in addressing Africa’s resource management challenges. Themed “Shaping the Future of Africa’s Resource Landscape”, the summit will focus on leveraging the continent’s abundant raw materials for sustainable industrialization, economic expansion and global competitiveness. Professor Ike-Muonso stressed that Africa, despite being home to a significant portion…

The National Drug Law Enforcement Agency of Nigeria (NDLEA) has arrested a 42-year-old Angolan businessman, Mbala Abuba, at the Mallam Aminu Kano International Airport (MAKIA) for attempting to smuggle 120 wraps of drugs to Istanbul, Türkiye. According to a statement by NDLEA’s Director of Media and Advocacy, Femi Babafemi, Abuba, who hails from Zaire province, Angola, was apprehended on Tuesday, February 25, at the airport’s screening point while trying to board Egypt Air flight MS 880 to Istanbul via Cairo. A body scan confirmed that he had ingested illicit cocaine. Following his arrest, Abuba was placed under observation and later…

Malawi has revised its 2025 economic growth forecast downward as inflation concerns spark protests across major cities. Finance Minister Simplex Chithyola Banda announced in the annual budget that the economy is now expected to grow by 3.2% this year, down from the 4.0% projection made in December. Last year’s growth stood at 1.8%, impacted by a severe drought that reduced agricultural output, the backbone of Malawi’s economy. The country is grappling with high inflation, recorded at 28.5% in January, driven by foreign exchange shortages that have disrupted imports of essential goods like fuel and fertilizer. A black market for foreign…

Ron Draper, the oldest living Test cricketer, has died at the age of 98 in a retirement home in Gqeberha, his family confirmed on Friday. A top-order batsman and occasional wicketkeeper, Draper represented South Africa in two Test matches against Australia in 1950. His passing makes former Australian cricketer Neil Harvey, 96, the new oldest living Test player. Born on December 24, 1926, Draper made a memorable start to his cricketing career, scoring a century on his first-class debut for Eastern Province on his 19th birthday. Although his Test career was brief, he left his mark in domestic cricket, becoming…

Nigerian President Bola Tinubu has signed the N54.99 trillion 2025 budget into law, nearly doubling the previous year’s N27.5 trillion allocation. The National Assembly approved the bill on February 13 after revising Tinubu’s initial proposal of N49.7 trillion. The budget includes N3.65 trillion in statutory transfers, N13.64 trillion for recurrent (non-debt) expenditures, and a significant increase in debt servicing costs, which now stand at N14.32 trillion. Revenue sources include N1.4 trillion from the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service (NCS), and N1.8 trillion from other government agencies. While the government argues the expanded budget…

Organized by the Turkish Directorate of Communications, the Türkiye-Africa Media Forum began in Istanbul on Friday, bringing together important media and government representatives to increase cooperation between Türkiye and Africa. Speaking at the opening, Türkiye’s Communications Director Fahrettin Altun emphasized Türkiye’s determination to look at Africa not through its challenges but through its potential and dynamism. African Broadcasting Union CEO Gregoire Ndjaka and Libyan National Union Communications and Political Affairs Minister Walid Ammar Ellafi also made statements emphasizing the importance of stronger media cooperation. The forum will include discussions on strengthening the media and communication ecosystem, promoting public diplomacy, and…

South Africa has reaffirmed that the registration deadline for spazas and kiosks will not be extended beyond Friday, according to Minister of Cooperative Governance and Traditional Affairs Velenkosini Hlabisa. The registration drive was launched by President Cyril Ramaphosa last November following a spate of food poisoning incidents that claimed the lives of dozens of children. Township Economic Commission Chair Bheki Twala explained that the deadline only applies to existing businesses operating without the necessary permits, including trading licences and Certificates of Admissibility. Authorities warned that unregistered shops would be shut down by law enforcement. South Africa’s Government Eyes Large Supermarkets…

According to the IMF’s official website, the International Monetary Fund (IMF) has scheduled a board meeting on March 10 to discuss and approve the fourth review of Egypt’s existing Extended Fund Facility (EFF) agreement. The review follows a staff-level agreement reached with Egypt on December 25 for an $8 billion loan program. Since then, no significant updates have been made, although both IMF and Egyptian officials have confirmed that the review is nearing completion. Egypt will receive a $1.2 billion tranche once the review is approved. This review is the first review since the IMF agreed to increase the loan…

Angola is in the final stages of joining the Southern African Development Community (SADC) Free Trade Area (FTA), a move that will boost regional trade and economic integration. The SADC Secretariat, with support from Germany’s BMZ and the European Union through GIZ, recently held a Trade Negotiation Forum (TNF) in Luanda to finalize the process. Once completed, Angola will become the 14th member of the SADC FTA, strengthening the bloc’s trade liberalization efforts. SADC Director of Industrial Development and Trade Dhunraj Kassee highlighted the economic benefits, such as reduced tariffs and the removal of non-tariff barriers, which will facilitate smoother…

The European Union (EU) has provided the Ghana Armed Forces with equipment valued at GH¢800 million to enhance the country’s defense capabilities. The package includes engineering tools, advanced communication systems, and riverine assets to support national security efforts. This donation follows the EU’s delivery of 105 militarized vehicles in 2023, with additional support planned through 2026. EU Ambassador to Ghana, Irchad Razaaly, emphasized the commitment of EU nations and Ghana to safeguarding shared values and countering security threats, particularly the spillover of instability from the Sahel region. Ghana’s Minister of Defence, Dr. Edward Omane Boamah, expressed appreciation for the EU’s…

Ghana’s cocoa regulator Cocobod will lose about $1.3 billion in revenue due to the payment of contracts that were rolled over to the 2024/25 season following a decline in cocoa production, according to former President John Dramani Mahama. In his State of the Nation address on Thursday, Mahama stressed that Ghana, the world’s second largest cocoa producer, had to delay the delivery of 370,000 metric tons of cocoa from the previous season due to a sharp decline in production. He noted that the increase in global cocoa prices had made Ghana’s 2024/25 crop more expensive, causing Cocobod to incur financial…

Ugandan police have launched an investigation into the death of Nigerian professional footballer Abubakar Lawal, who allegedly fell from a shopping mall in the capital Kampala. Lawal, 29, reportedly fell from a third-floor balcony at the Voicemall Shopping Mall while visiting a Tanzanian friend. Authorities confirmed that Lawal was pronounced dead on arrival after being rushed to hospital. According to police reports, Lawal’s friend Omary Naima left him in his room, which is part of the shopping mall, making tea before the tragic incident occurred. Lawal was a forward for Uganda’s Vipers Sports Club, and the club expressed deep sorrow…

Tether has signed a Memorandum of Understanding (MoU) with Guinea to promote economic growth through blockchain technology and digital education. The partnership aims to position Guinea as a leader in Africa’s digital economy by encouraging innovation and knowledge exchange. A key component of the collaboration is the introduction of educational programs in both the public and private sectors. Tether will work with the Guinea City of Science and Innovation (CSIG) to develop local talent and enhance digital skills. This initiative aligns with Guinea’s broader “Innovation City” project, which aims to promote technological transformation and global competitiveness. Tether CEO Paolo Ardoino…

The 80th anniversary of the United Nations has sparked discussions on the organization’s relevance in an evolving global landscape. In an interview with UN News, General Assembly President Philémon Yang emphasized the need for reforms to address Africa’s development challenges and close the digital divide between the Global South and the developed world. Yang’s remarks came after a UN Security Council session on terrorism in Africa, where UN Deputy Secretary-General Amina Mohammed described the continent as the “epicenter of global terrorism,” accounting for 59 percent of terrorism-related deaths worldwide. Yang, a former Cameroonian Prime Minister, proposed that the African Union…

Nigerian authorities have charged 53 individuals, including 40 Chinese nationals, in connection with a global cybercrime ring linked to Ponzi schemes, cryptocurrency fraud, and cyber-terrorism. The suspects, arrested in December 2024, were brought before the Federal High Court in Lagos, where they faced a range of charges, including cybercrime, identity theft, and impersonation. The Economic and Financial Crimes Commission (EFCC) alleges the defendants were part of a network responsible for defrauding victims across the world. Some of the suspects are accused of using cyber tactics to destabilize Nigeria’s structure by recruiting local youths to commit identity theft and impersonate foreign…